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Government launches student loan forgiveness program to boost population growth

Thursday, October 5, 2017


According to the new rule announced by Katalin Novák, State Secretary for Family, Youth and International Affairs, after the birth of the first child, student loan repayment is suspended for three years; during this period the government pays the interests on behalf of the client.

After giving birth to the second child the government forgives half of the debt and all students debts will be cancelled to those who give birth to three of more children.

The program impacts students with children born after January 1, 2018.

The exemption can be requested from the third month of pregnancy, which is valid for adopted children as well.

Students who already have children can also count their existing ones towards the program. If for instance, the applicant already have a child and gives birth to the second one, half of her debt will be forgiven; if she gives birth two more children all of her debt will be cancelled.

(MTI - hungarianambiance.com)

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